Chasing Waves in the Currency Sea: Bitcoin (BTC) Market Analysis Reference on May 12:

Bitcoin is currently priced at 80900, in a high-level consolidation phase after an upward trend on the daily chart, with prices consistently running above the middle band of the Bollinger Bands and standing firmly above the 7-day, 15-day, and 30-day EMA moving averages. The core structure of the bullish trend has not yet been broken. However, from a momentum perspective, the MACD histogram is shrinking, and the DIF is approaching the DEA line, showing signs of forming a death cross. Meanwhile, the KDJ and RSI indicators are turning down from high levels, indicating a clear decline in upward momentum. In the short term, it is likely to enter a high-level consolidation correction, with resistance concentrated in the 82500-83000 range, and key support below located in the 80000-79500 area. As long as this support zone is not effectively broken, the overall upward trend still has a basis for continuation.

The short-term 4-hour level has clearly entered a short-term retracement correction phase, with prices rapidly falling from the upper Bollinger Band to below the middle band, while also breaking below the 7-day and 15-day short-term EMA moving averages. The short-term bullish force has significantly weakened. The MACD has formed a death cross with bearish expansion, the three lines of KDJ are turning down, and the J value has entered a weak zone; the RSI indicator has also retreated to a lower neutral area, indicating that short-term bearish momentum is being released. The first support below is in the 80500-80000 range, which aligns with the previous platform and the lower band of the Bollinger Bands. If it can stabilize and stop falling in this range, it is very likely to return to high-level consolidation; if it breaks effectively below, the downward space will further open up. I hope fellow cryptocurrency enthusiasts are prepared for risk management in advance.

Chasing Waves in the Currency Sea: Short-term Bitcoin Reference on May 12:

Long Position: Buy in the 79200-80200 range, with a stop loss of 500 points, aiming for 81000-82000,

Short Position: Sell in the 82500-81500 range, with a stop loss of 500 points, aiming for 81000-80000,

[The above analysis and strategies are for reference only; risks are to be borne by yourself. The article review and publication may have delays, and the strategies may not have timely relevance. Do not operate blindly.]

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